Credit Suisse Wins U.S. Exemption to Continue Managing Pension Assets

Labor Department exemption needed after guilty plea in U.S.

ZURICH—Credit Suisse Group AG won a U.S. government exemption enabling the Swiss bank to continue managing billions of dollars in pension fund assets, following its guilty plea in a U.S. court last year.

The U.S. Department of Labor granted Zurich-based Credit Suisse a new exemption that covers some entities affiliated with the bank until Nov. 2019, and covers others related to the bank until Nov. 2024, according to a document posted online and scheduled to be published in the federal register on Friday. The bank’s current,...